Co-operatives Directplus

Free banking for co-operatives

Our Co‑operatives Directplus account is available exclusively to co‑operatives with a turnover of up to £1 million, who deposit up to £100,000 in cash and up to 5,000 cheques per annum.

Co‑operatives Directplus gives your organisation an ethical way to bank for free, so you won’t have to pay any charges, as long as you operate within the agreed limits. Charges apply for exceeding these limits and for any special services such as, CHAPS payments, stopped cheques etc. Please refer to the tariff for full details.

If your organisation has a turnover of up to £500,000, you can benefit from:

  • free banking
  • the freedom to manage your account 24/7, however it suits you; online, over the telephone or at your local Post Office® by arrangement
  • a business debit card*, offering you a convenient way to pay for goods and services
  • interest on credit balances of £25,000 or more.

Organisations with a turnover of between £500,000 and £1 million can enjoy all the above benefits, plus:

  • you will be given a named contact who you can speak to when you use our telephone banking service.
Ethical Policy in Action - supporting co-operatives & social enterprises

The Hive Image

The Hive is a new, business support programme to help the development and growth of the UK co-operative and social enterprise sector. Demonstrating its Ethical Policy commitment to support co-operatives, the Bank has committed £1.05million to this three year programme in partnership with Co-operatives UK, the UK trade association.
The Hive provides resources to help new co-ops and community businesses to start-up, existing co-ops to grow, non co-ops to convert, and communities to thrive. Find out more about The Hive

FSCS logo

smile, The Co‑operative Bank and Britannia are trading names of The Co‑operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).  Find out more

The Bank reserves the right to decline any application and/or deposit

We reserve the right to review the account tariff for customers whose credit turnover exceeds £1 million per annum, who deposit more than £100,000 per annum or who deposit more than 5,000 cheques per annum.

*Credit facilities are provided by The Co-operative Bank and are subject to application status. Security may be required.